Pricing wars will continue, ILEA report says

Unless event services providers and producers find a way to offer distinct products professionals will lose out, ILEA says.

A report from the International Live Events Association (ILEA) says it's crucial that the industry finds new ways to differentiate live events.

Called Unifying the Live Events Industry, the report points out that every service event producers offer can be sourced online, whether it's areas like idea generation, templates, timelines or budgets.

Because these services have become distinct products, it means they can be commoditized, the report says.

"If nothing changes, the pricing wars will continue, and many events professionals will end up on the losing end," it said.

"To differentiate ourselves from the assortment of products available to anyone on the internet, we must consider what we can do that is proprietary."

The report says the live events industry has "unique value" with the key being how this is communicated, in tandem with the "wave of technology" as well as the aim of being able to "innovate to survive".

The report concludes: "As scary as it is to many in the industry, we need to focus on data. Data collection, data analytics - eventually, every event team will include a data analyst who helps guide event design and logistics based on hard numbers.

"Having measurable results, embracing data and making it part of the culture will keep the professional events industry a step ahead of what nonprofessionals can do."

Data may itself become an output, it added, with one goal of an event as producing data that could potentially be sold on.  

 For more features and breaking news sign up to C&IT Magazine's daily Newstracker here.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
How to stop fake news ruining your event

How to stop fake news ruining your event

False information travels much quicker than the truth so make sure you're ready to act fast, says expert at IBTM World in Barcelona.

Tips for succeeding in a crisis from Thailand cave rescue diver

Tips for succeeding in a crisis from Thailand cave rescue diver

British cave diver involved in the 2018 Tham Luang rescue explains how he solves problems in steps and stays calm under pressure.

4 days left to answer our corporate event planner survey and win a luxury hotel stay

4 days left to answer our corporate event planner survey and win a luxury hotel stay

Complete our quick 10-minute survey to win a stay for two with Iconic Luxury Hotels and inform our State of the Industry report.

SDI Meetings and Incentives appoints new president

SDI Meetings and Incentives appoints new president

Chicago-based agency makes leadership change but former president will continue in role as company founder.

8 essential steps for event marketing

8 essential steps for event marketing

Delegates at IBTM World in Barcelona got some tips from MPI to create a smart promotional strategy.

The unstoppable growth of esports events

The unstoppable growth of esports events

CEO of Excel Esports explains why the audience for gaming and esports events is only getting bigger.

New head of live events for HGA

New head of live events for HGA

Manchester-based events agency makes several appointments after a year of record revenue.

IBTM World Trends Watch 2020: 'The changing face of delegates'

IBTM World Trends Watch 2020: 'The changing face of delegates'

Report identifies global MICE trends in areas such as technology, sustainability and incentive travel.

In pictures: Villa Copenhagen opening in 2020

In pictures: Villa Copenhagen opening in 2020

Central post office built in 1912 has been restored to house the new 390-room hotel that can host events for 1,200 attendees.

Strata brings in a dozen new recruits

Strata brings in a dozen new recruits

Agency hires 12 people across all departments, including client services director Laura Awcock.

LATEST JOBS